The Bunya Fund, Australia’s first cooperative development fund, has this month celebrated the success of the first two rounds of the programme with a cooperative showcase and the release of the Bunya Impact Report. The event brought together funders, Bunya participants and community leaders to recognise the fund’s achievements and its transformative impact on communities across Australia and was hosted by Australian Unity.
The Bunya Fund was established as a cooperative development fund by ICMIF member the Business Council of Co-operatives and Mutuals (BCCM) in collaboration with its members, the Fund helps newer and emerging cooperatives and mutuals to grow and prosper to increase their positive impact on their members, their community, the environment and society. This aligns with the BCCM’s mission to support growing the cooperative and mutual economy in Australia, and empowers the next generation of social businesses to choose the cooperative or mutual model of enterprise if it is the right model for them.
“The Bunya Fund Showcase is a testament to the resilience and spirit of co-operation” said Melina Morrison, CEO, BCCM. “Through strategic investment in scalable and replicability of projects, the fund is generating a wave of positive change, empowering communities to thrive and prosper.”
Central to the event was the release of The Bunya Fund Impact Report by UNSW’s Professor Emmanuel Josserand. The document outlines the fund’s impact to date, providing a report on how each cooperative is making an impact in its community and contributing to the UN’s Sustainable Development Goals.
“As we reflect on the journey thus far, The Bunya Fund Impact Report and associated stories highlight the power of cooperative ownership in driving meaningful change,” stated Antony McMullen, Bunya Fund Manager. “From empowering First Nations communities to supporting sustainable shared-ownership in housing, the report showcases the breadth and depth of the fund’s impact.”
BCCM says the Bunya Fund has emerged as a pioneering force in the cooperative landscape. With a focus on fostering inclusive economic growth and empowering marginalised communities in Australia, the fund continues to pave the way for a more equitable and sustainable future through cooperative enterprise. The foundational funders, Australian Unity, Bank Australia and CBH Group, have committed a total of AUD 137,500 per year for a period of three years; over the first two rounds 16 projects have received packages of support ranging from AUD 2,500 to AUD 24,000 each.
One Bunya Fund recipient, Co-operation Housing, declared, “The Bunya Fund has been a game-changer for us.” Eugenie Stockman, Business Development Manager at Co-operation Housing, shared: “[The Bunya Fund] has allowed us to navigate the complexities of funding and legislative requirements, making projects like Kyloring [housing cooperative] not only possible but successful,” Eugenie states. The fund’s support underscores the potential of social investment to foster housing solutions that prioritise social, environmental and cultural outcomes.
Photo: Richard Timbury, Casamento Photography
